By Olufemi Oni, Ilorin
Kwara state Government has budgeted the sum of N189.4bn for the 2023 fiscal year, with a recurrent expenditure of 49.1 percent and capital component of 50.9 percent.
Presenting the budget before members of the state House of Assembly in Ilorin on Wednesday, Governor AbdulRahman AbdulRazaq said: “This is a budget of economic expansion and sustainable development that focuses on strengthening the current gains.
“It is built around the Kwara State Sustainable Development Plan 2021-2030, Medium Term Sector Strategy 2021-2023 and Citizens Need Assessments.”
According to the Governor, the budget would place more emphasis on continuous infrastructural development, completion of ongoing road projects, agribusinesses, irrigation and mechanisation, workers’ welfare, rural electrification, and improved water reticulation, among others, adding that n the new year, the RAAMP road projects would begin full steam.
He added: “So is the special agroprocessing zone that is supported by development agencies. In the new year, we will also implement the National Programme on Food Security (NPFS) and Adolescent Girls Initiative for Learning and Empowerment, among others.
“Its key assumptions are oil price of 70 US Dollars per barrel; daily oil production estimate of 1.69m barrel per day; exchange rate of N435 to one United States Dollar; GDP growth of 3.75 percent and inflation rate of 17.16 percent.
“Funding windows include the federal allocations, internally generated revenue (IGR), grants, and other capital receipts.”
Speaking on their achievements, AbdulRazaq stated that his administration has delivered on key campaign promises in education, healthcare delivery, provision of potable water, agriculture, poverty reduction, gender mainstreaming, youth and women empowerment, financial inclusion, workers’ welfare, infrastructure, and rural urban development.
He added: “The Garment Factory, Visual Arts Centre, Innovation Hub, General Tunde Idiagbon Bridge, Osi-Obbo Aiyegunle Road, Adeta-Yebumot-AlHikmah University Road, Ilesha Gwanara Road, Osi and Ilesha Baruba Campuses of KWASU, Oro General Hospital, Jebba Waterworks, among others, are all near completion.”